|Feb 23, 2018|
|Feb 23, 2018|
Currency in HKD
|Full time employees:||10,389|
Bank of East Asia Ltd. engages in the provision of banking and related financial services, and business, corporate and investor services. It operates through the following segments: Personal Banking, Corporate Banking, Treasury Markets, Wealth Management, Financial Institutions, Other Hong Kong Banking Operations, China Operations, Overseas Operations, Corporate Services, and Other Businesses. The Personal Banking segment handles branch operations, personal internet banking, consumer finance, and property loans and credit card business. The Corporate Banking segment includes corporate lending and loan syndication, asset based lending, commercial lending, and securities lending in Hong Kong. The Treasury Markets segment engages in treasury operations and securities dealing. The Wealth Management segment offers private banking business and related assets. The Financial Institutions segment provides trade financing activities with correspondent banks. The Other Hong Kong Banking Operations segment manages the insurance business, trust business, securities and futures broking, money lender activities, and corporate financial advisory in Hong Kong. The China Operations segment consists of the back office unit for China operations in Hong Kong, all branches and subsidiaries in China, except those subsidiaries carrying out corporate services, data processing, and other back office operations and associates operated in China. The Overseas Operations segment have the back office unit for overseas operations in Hong Kong, overseas branches and subsidiaries, except those subsidiaries carrying out corporate services, and associates operated in overseas. The Corporate Services segment covers the company secretarial services, share registration and business services, and offshore corporate and trust services. The Other Businesses segment comprises the insurance business, property-related business, supporting units of Hong Kong operations, investment properties, bank premises, and the net results of associates and other subsidiaries. The company was founded in 1918 and is headquartered in Hong Kong.
Bank of East Asia, an independent Hong Kong-based bank, has more than 200 branches around the world, primarily in the Greater China region -- mainland China, Taiwan and Macau.
It was established in 1918. In 2007, The Bank of East Asia, the U.K.'s HSBC and Citibank of the U.S. were the first foreign lenders to get permission from the China Banking Regulatory Commission to establish Chinese subsidiaries.
The Bank of East Asia maintains a good relationship with the Chinese government as it was quicker than its competitors to offer yuan services.
The bank also has a strategic alliance with the online WeBank, which is affiliated with Tencent, one of China's big three Internet players.
In 2014, it increased its capital through a third-party allocation of shares to Sumitomo Mitsui Banking, making the Japanese bank its largest shareholder, ahead of Spain's CaixaBank and the Guoco Group of Malaysia.
Chairman and CEO David Li Kwok-po is a business tycoon who had served as a member of the Legislative Council of Hong Kong. His first and second sons serve as deputy chief executives at the bank. The Li family has produced political and business leaders.
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- Local currency
- US Dollar
|Income before tax||4,161M|
|Dividends per share||0.56|
|Operating cash flow||8,909M|
Currency in HKD
|Income before tax||536.04M|
|Dividends per share||0.07|
|Operating cash flow||1,147.70M|
Currency in USD
- Chairman & Chief Executive Officer: Kwok Po Li
- Chief Operating Officer & Deputy CEO: Hon-Shing Tong
- Vice President: Hei Lok Shiao
- Chief Investment Officer & Deputy CEO: Kai-Cheong Li
- Executive Director & Deputy CEO: Man Kiu Li
- Sumitomo Mitsui Financial Group, Inc.(18.4%)
- Fundacion Bancaria Caixa d'Estalvis i Pensions de Barcelona(16.7%)
- Guoco Group Ltd.(13.3%)
- Elliott Management Corp.(7.8%)
- LI KWOK PO DAVID(3.2%)
- LI KWOK CHEUNG(1.4%)
- The Vanguard Group, Inc.(1.0%)
- BlackRock Fund Advisors(0.7%)
- LI KWOK SING(0.6%)
- WONG CHI YUN(0.6%)
- Website: http://www.hkbea.com
- Address: 10 Des Voeux Road, Central, Hong Kong, Hong Kong
- Phone: +852.3608.3608
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